Ripple’s XRPL Hits Mainstream: How 13 Years of Relentless Growth Forged a Financial Juggernaut

Ripple’s XRP Ledger (XRPL) just pulled off what Wall Street thought impossible—a decentralized network outlasting three bull cycles to become critical financial plumbing.

From zero to backbone in 13 years

The ledger now settles $2.1B daily—faster than some legacy banks process internal transfers. Institutions quietly adopted it while crypto Twitter argued about memecoins.

Why banks secretly love XRPL

No 3am margin calls. No KYC paperwork tornadoes. Just atomic swaps settling before compliance officers finish their latte. TradFi’s worst-kept secret? They’re addicted to the efficiency.

The cynical kicker

Meanwhile, hedge funds still charge 2-and-20 for moving money at dial-up speeds. Some things never change—except the infrastructure beneath them.

• Ripple CTO David Schwartz says XRPL’s 13-year journey shows its strength in global payments.
• Permissionless design and decentralization keep XRPL competitive and adaptable.
• Low fees and interoperability make XRPL a strong contender for global financial infrastructure.

David Schwartz, widely known in the crypto world as “JoelKatz,” is Ripple’s Chief Technology Officer. He recently spoke about the wave of payment and stablecoin companies creating their own blockchains.

For him, this is proof that the industry now sees blockchain as a vital part of the financial system. Ripple has been building toward that goal for more than thirteen years with the XRP Ledger.

We’ve been seeing more and more players in the payments and stablecoins space launch their own blockchains. To me, that’s a clear sign the market sees blockchain as Core financial infrastructure — something we’ve believed in and have been building toward on the XRP Ledger for…

Schwartz explained that launching a blockchain is already difficult, but building an active, trusted ecosystem is much harder. It requires developers, liquidity, trust, and real-world adoption. The XRP Ledger, he said, has achieved that because it has been tested over time, upgraded regularly, and earned the confidence of institutions.

Balancing Openness With Practical Use

Schwartz also touched on the ongoing debate regarding decentralization. Some blockchains have permissioned validator sets controlled by one company or a small collection of companies. That strategy allows for ease of compliance and control in closed environments but limits reach and resilience.

The XRPL is permissionless and open in its fundamentals, but has optional permissioned instruments in place for those occasions where regulation is necessary.

This combination provides the flexibility to adapt without remaining inaccessible to anyone. Its architecture enables connecting people, markets, and assets beyond borders and bridging various financial systems together.

XRPL’s Low-Cost Transactions Drive Adoption

One of the XRPL’s biggest strengths is its cost efficiency. Transactions cost just fractions of a cent and don’t require a separate gas token. Payments can be made directly in XRP, which acts as a bridge asset for settlements and liquidity. Every transaction burns a tiny amount of XRP, reinforcing its role in the network.

Schwartz noted that newer blockchains are already making use of principles already deployed in the XRPL for a few years, including deterministic finality and Proof of Authority-style consensus.

This is where the direction the industry is going is, into quicker and more predictable forms of settlement without costly validation.

When looking ahead, Schwartz’s plans for XRPL are to increase the level of programmability, include features that are compliance-friendly, and create stronger liquidity for institutions.

His final statement was that the crypto space continues to develop and has opportunities for new entrants to come in and participate in the broader space of digital finances.